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Stocks to Watch: Maruti, Future Retail, Coal India, NTPC

The market closed in the red on Tuesday. Sensex ended at 57,064.87, down 195.72 points, or 0.34% and Nifty settled at 16,983.20, down 70.75 points, or 0.41%. (PTI)Premium
The market closed in the red on Tuesday. Sensex ended at 57,064.87, down 195.72 points, or 0.34% and Nifty settled at 16,983.20, down 70.75 points, or 0.41%. (PTI)

  • Tega Industries IPO is opening for subscription today. On Tuesday, benchmark indices closed in the red. Powergrid, and Titan were the top gainers, and Tata Steel and Kotak Bank dragged on the Sensex. On the Nifty, Powergrid and Shree Cement gained, and Tata Steel and Kotak Mahindra Bank dragged

Here is the list of the top 10 stocks that are likely to be in focus on Wednesday:

Maruti Suzuki: India's largest carmaker Maruti Suzuki has flagged the impact of chip crunch on the vehicle production at two of its manufacturing units in the country. The vehicle production could only be around 80% to 85% of the normal production, owing to supply constraint of electronic components due to the ongoing semiconductor shortage situation.

Future Retail: Future Retail Ltd’s lenders are planning to discuss allegations of financial irregularities against the retailer and may initiate a forensic audit of the company’s books, two people aware of the development said. In a 24 November letter to the finance ministry and the Reserve Bank of India, Future Group’s partner Amazon.com Inc. alleged funds diversion in Future Retail, including unfair related-party transactions worth about $1 billion; a sudden spike in Future Retail’s debts; and an inordinate delay in payment to creditors due to discrimination by promoters.

NTPC: State-owned power giant NTPC said 250-MW unit-4 of its Nabinagar power plant will begin commercial from the midnight of Wednesday. "Unit-4 of 250 MW capacity of Nabinagar Thermal Power Project (4X250 MW) of Bhartiya Rail Bijlee Company Limited (a subsidiary company of NTPC Ltd) is declared on commercial operation w.e.f. 00:00 hrs of December 1, 2021," according to a BSE filing. With this, the commercial capacity of the NTPC group will become 67,907.5 megawatts (MW), it stated.

Coal India: State-run Coal India Ltd (CIL) plans to invest 19,650 crore by FY24 to increase coal transportation capacity by 330 million tonnes (mt) by constructing rail links and setting up joint ventures (JVs). The world’s largest coal miner’s rail mobility play comes against the backdrop of a coal shortage that has raised concerns. The situation has however improved with fuel stock sufficient for nine days at 136 coal-run power projects totalling 166.109 giga watt (GW). Shares of Coal India surged in Tuesday's opening deals after the miner in a regulatory filing on Monday said that the board in its meeting held approved payment of interim dividend for FY22 at 9 per share of the face value of 10 as against 7.5 per share announced last year.

Rail Vikas Nigam: The company signed MoU with Economic Policy Research Institute of KYRGYZ Republic, Government of Kyrgyzstan, for development of railway corridor projects in Kyrgyz Republic specially to connect from Bishkek to Karakechenskoye.

NMDC: State-owned mining company NMDC on Tuesday slashed prices of lump ore by 750 a tonne and fines 200 per tonne, with immediate effect. In a regulatory filing, the company said it has revised the rates of lump ore or higher grade ore to 5,200 a tonne. While the price of lump ore or low-grade ore has been fixed at 4,560 per tonne.

Yes Bank: The Supreme Court on Tuesday set aside a Noida police directive that barred Yes Bank Ltd from exercising its rights over the shares it owns in Dish TV India Ltd and stayed the ongoing police probe, saying such actions can have “dangerous consequences". The top court’s order allows Yes Bank, the satellite-TV provider’s largest shareholder with a 25.63% stake, to continue its now over-two month battle for a board reconstitution at Dish TV.

Torrent Pharma: Shares of Torrent Pharmaceuticals Ltd have gained more than 10% over the last one week. The renewed investor confidence is led by expectations of a strong growth trajectory in the domestic market, which have prompted analysts at Credit Suisse to upgrade the stock to “outperform" from “underperform". The company had reported lower-than-expected performance for September quarter.

Axis Bank: Private lender Axis Bank has received approval from both Bombay Stock Exchange (BSE) and Nation Stock Exchange (NSE) to reclassify four insurers from promoter category to public shareholders. "We wish to inform you that BSE and NSE vide their respective letters dated November 30, 2021 have granted their approval for the reclassification of aforementioned promoters to “Public" category from “Promoter" category," Axis Bank said in a filing.

Zomato: Close on the heels of launching a $1 billion corpus to invest in startups, food delivery company Zomato on Tuesday unveiled Zomato Wings, a platform to help restaurants raise investments. Zomato said it would facilitate fundraising for its partner restaurants by helping them position their story and metrics and connecting them with investors. Zomato itself, though, will not invest in the restaurant brands.

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